i need direct method.

The beginning and ending balances in each of the balance sheet accounts of the Mexico Company are as follows: Dec. 31, 2019 Dec. 31. 2020 Cash P260,000 P100,000 Accounts receivable 180.000 360.000 Inventory 400,000 460,000 Prepaid insurance 50.000 30.000 Total current assets P890,000 P950,000 Land P1,200,000 P1,500,000 Plant & equipment 1.000.000 1.400.000 Accumulated depreciation (400.000 (500,000) Total non-current assets P1,800,000 P2.400.000 Total assets P2,690,000 P3.350,000 Accounts payable Accrued operating expenses Interest payable Income taxes payable Total current liabilities Bonds payable Common stock Retained earnings P300,000 200,000 20,000 122.000 P 642.000 600,000 800,000 648,000 P 260.000 132.000 30,000 150.000 P 572,000 700,000 1,100,000 978,005 Total liabilities & equity P2,690,000 P3,350,000 The forecast income statement for the Mexico Company for 2020 is presented below: Sales Cost of sales Gross profit Operating expenses Income before interest & tax Interest expense Income before tax Income tax Net income P2,500,000 1,400,000 P1,100,000 300.000 P 800,000 50.000 P750,000 300.000 P450,000 REQUIRED: 1. Prepare a forecast cash flow statement for 2020